The changes come as part of an enhanced broker model developed after consultation with CIF and the bank’s third party network

Resistance to change and lack of social media understanding among senior leaders is stifling innovation and transparency in organisations, according to research by CIPD.

In the report, titled Social media and employee voice: the current landscape, employers are urged to recognise that social media drives collaboration and transparency, and those who do not embrace it will find themselves at a disadvantage.

Findings revealed that senior leaders are often unable to grasp how social media works and the power of the data it can generate. The report also noted that too much weight is given to the potential dangers of social media, while the benefits of more traditional systems are overrated.

The sentiment was echoed by Jay Larson, president of worldwide field operations at social media platform developer Jive. He noted that the age of email as a communication channel is numbered. “Today, if a CEO sends out an email message, how do you know who read it? How do you know who hit delete? How do you get feedback? You don’t; you send it out to the ether and hope for the best.”